Media Blunder

 

 

No, this is not the usual media blunder where the interviewee makes the blunder. This time round it is the interviewer.

Last night CNA published an article quoting “Use Less CPF money to prepare for retirement: Labour chief”

Immediately the social media responded with fiery storm drawing many criticism on Labour Chief Mr Lim Swee Say. Many questioned   how and why could anyone use less CPF to prepare for retirement?

Many questions and criticisms went unanswered. Nonetheless, many netizen when on to view the actual video recording but could not find what CNA had mentioned in their headline.

 

http://www.channelnewsasia.com/news/video/use-less-cpf-money-to/1191144.html

Appearancely this is not the first time CNA put words in Minister’s mouth

 

Abstract from FAB (Fabrication about PAP)
What does Lim Swee Say say? – Not the first time CNA put words in Minister’s mouth.

First CNA used the headlines “Use Less CPF money to prepare for retirement: Labour chief”. Then they quietly changed it to “Work longer, save more and use less CPF when young to prepare for retirement: Labour chief”

So many got misled by the headlines because most did not bother to read the entire article. Because if one has done so, he or she would be able to see what he was actually trying to say.

You’ll find he made three points and nothing about using less CPF.

A. CPF is your money. No one can use it or take it away from you.

B. Your money at CPF is 100% safe, guarantee by the govt. many people lost their investment during global financial crisis whereas your money at CPF continue to earn risk free interest.

C. Instead of thinking about whether you can spend your savings in the CPF at the age of 55,we should think about how we can help our Singaporeans to remain employed, earn good living and have good jobs. At the same time, to continue to contribute to the CPF because the more money they have in CPF, the longer they defer the use of their CPF, the more they wil have for retirement.

This is not the first time CNA wrongly attributed quotes to Minister. Just a month a go, CNA quietly retract its story after putting words in Minister Tan Chuan-Jin’s mouth [1].

 

NTUC chief Lim Swee Say clarifies media report on CPF

 

SINGAPORE: The Secretary-General of the National Trades Union Congress (NTUC), Mr Lim Swee Say, has clarified a Channel NewsAsia report which quoted him on Sunday (June 22).

He has penned the following letter in response:

I refer to the article, “Prepare for retirement ‘by using less CPF money when young'” (23 June).

The article para-phrased my comments and wrote, “The best way for Singaporeans to prepare for retirement is to use less of their Central Provident Fund (CPF) money when they are young.” It gave the impression that I have urged Singaporeans not to use their CPF monies before retirement for any purpose including housing, healthcare and education for our children.

This is incorrect.

For the record, I made three points about CPF:

Firstly, CPF is your money. Nobody can take away that money from you.

Secondly, your money with CPF is 100% safe and continues to earn risk free interest, even during challenging times like the global financial crisis in 2009.

As the third point was reported out of context, I reproduce the relevant text of my interview here:

“Thirdly, the money is mainly for your retirement purpose. Besides housing, healthcare and education for your children, a very important part of CPF is to cater for retirement. So, for every dollar, if you can defer the use of the dollar, it is better to defer the use of the dollar when you are still young. For example, instead of thinking of whether you can spend your CPF savings at the age of 55, I think we should think about how we should help our Singaporeans remain employed, to continue to earn a good living, a good job and at the same time, to continue to contribute to the CPF. Because the more money you have in your CPF and the longer you defer the use of the CPF, the more you will have for retirement, as all of us are living longer and longer. So, these are the three basic points: firstly, the CPF is your money, no one can take away from you. Secondly, your money is 100% safe. Thirdly, the less you make use of your money when you are young, the more money you will have for retirement.”

It is clear in this context that ‘young’ refers to those who are aged 55 and “less use” of the CPF money refers to the CPF cash withdrawal for purposes other than housing, healthcare and education for the children.

Lim Swee Say
Secretary-General
National Trades Union Congress

image from socialmaximizer
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